CEFC China Energy and Rosneft on November 10, 2017, have agreed to study the possibility of building a petrochemical complex in Hainan, South China.
Rosneft and CEFC signed an agreement to carry out a joint preliminary study into the possible construction of a petrochemical plant in Hainan at the margins of the APEC Summit (Asia-Pacific Economic Cooperation) in Vietnam.
The companies did not provide any financial details of the deal
The complex would be built in Yangpu, a port in China's island province of Hainan, China Business Network reported, citing the CEFC CEO.
«Once a feedstock supplier joins the investment of the petrochemical facility ... the supply chain will be strengthened further and shall benefit the project's profitability,» said an investment official of CEFC Cai Feng.
CEFC China Energy and Rosneft in July 2017 signed strategic cooperation agreement within the official visit of China´s President to Moscow.
This agreement envisages interaction of the parties in upstream, refining and petrochemicals, oil and oil product trading, retail sales and financial services.
In September 2017 at the 9th BRICS Summit Rosneft and CEFC signed a long-term oil supply contract.
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